Urban Visions - Sustainable Real Estate

FOR SALE - The Liberty Building

2011-11-17T16:58:00.000-08:00

Urban Visions is proud to present the Liberty Building, a unique opportunity to acquire a "one of a kind" building on one of Seattle's busiest pedestrian corridors, Pike Street. The Building is 100% leased to The Hard Rock Cafe and is strategically located 1/2 block from the main entrance to the Pike Place Market, Seattle's world famous attraction with over 10,000,000 visitors annually. Hard Rock Cafe International Corp is 2 years into a 10 year base term with two (5) year options. Current zoning permits future redevelopment into a tall slender residential tower.

The Liberty Building

For more information, please contact Broderick Smith at (206)-262-2880 or visit www.SeattleHardRock.com.

"Pioneer Square Is About To Get A New Neighbor"

2011-11-01T15:42:00.000-07:00

We've engaged Brandon Weber and Owen Rice with Seattle's CBRE office to represent 200 Occidental, our forthcoming office/residential/retail development in the heart of Pioneer Square.

CBRE sent the following email out this morning - stay tuned for details!

DJC: Developer Proposes a Parking Garage Under Occidental Park

2011-10-24T18:02:00.000-07:00

"Capital follows intellectual capital, and that's flowing here,” said Smith, who said he hopes to start both projects next year."

An article in today's Daily Journal of Commerce focuses on two of Urban Visions' upcoming development projects: 200 Occidental and 2nd & Pike Tower. Click here to read the article.

200 Occidental is a 130' tall, mixed-use development in the heart of Pioneer Square. It will feature 130,000 SF of class A office space, 83,000 SF of market rate housing, and ground floor retail spilling out onto Occidental Park. Urban Visions' will be announcing more details about the project in the next few weeks.

2nd & Pike Tower is a 440' tall apartment tower located near Pike Place Market along Seattle's busiest pedestrian corridor, Pike Street. The project will host approximately 370 market rate apartment units with a strategic location near Pike Place Market, the Seattle Art Museum, the retail core, Benaroya Hall, and the CBD. More details to be announced soon about this project as well.

Pioneer Square, Seattle's Technology Hub, is Booming

2011-10-07T15:02:00.000-07:00

Big lease transactions, substantial investment sales, and shovels in the ground! The list of recent activity in Pioneer Square goes on and on. Its a clear toast to this unique area's future, and it reaffirms a fundamental trend: Pioneer Square is the place to be.

One of Urban Visions' development projects in the pipeline is located in the heart of Pioneer Square @ 200 Occidental. At 130' tall, this mixed-use development will add 130,000 SF of Class A+ office, 72 market rate housing units, ground floor retail spilling out onto Occidental Park, and space that could one day house a trolley maintenance facility. We plan to announce more information soon so watch for that in the news. Below is a project rendering, as well as a summary of recent articles highlighting exciting activity in the area.

Rendering of 200 Occidental looking North East

Below is a summary of recent articles highlighting the area's latest developments...

1) Tech companies lead 'renaissance' in Seattle's Pioneer Square

“In a world where every little competitive edge is going to help you recruit an employee — especially from some of those larger firms — I think all of that in Pioneer Square puts us a step ahead of other competing organizations that aren’t in Pioneer Square.”

2) HTC look's to expand in Seattle's Pioneer Square, but space is limited

Taiwanese smartphone company HTC Corp. is looking to expand its footprint in Seattle’s Pioneer Square area....The company is thought to be looking for about 50,000 square feet

3) Ground Breaking on North Lot begins new era in Pioneer Square

Over the next decade, the development is projected to generate more than $727 million in economic activity.

4) Groundbreaking on North Lot begins new era for Pioneer Square

“We’re on the cusp of the greatest economic recovery for Pioneer Square since Gold Rush days..."

5) Land sale sets stage for big Pioneer Square project

The developers plan to break ground this week on the project's first phase — 444 apartments in 10- and 25-story towers, plus retail and parking.

6) Pioneer Square has tech, needs tribe

"When you get down to it, Pioneer Square is the most beautiful neighborhood in the city, precisely because it’s so mismatched".

7) Pioneer Square Office Building's sell for $124.8 Million

The 505 1st Ave office building recently sold for a staggering $128 Million

8) 705 Union Sells for $38 Million

Leases for about 300,000 square feet of office space in the area [Pioneer Square] have been signed in the last four months. Among the new tenants are Cobalt, Isilon and Zulily.

2nd & Pike Master Use Permit Issued

2011-10-04T08:27:00.000-07:00

The Master Use Permit for Urban Visions' 2nd & Pike Tower was officially issued by the Seattle DPD on Monday, allowing Urban Visions to proceed with "a 35-story structure with 290 residential units above 14,850 sq. ft. of retail & restaurant space. Parking for 389 vehicles to be provided below grade."

More information about the project MUP issuance can be found here.

A write up in the Seattle PI also provides some interesting context:

Seattle PI: A 'Sky Bar' at Second and Pike

For additional information, please contact Greg or Broderick Smith @ 206.262.2880.

2nd & Pike site on MSNBC.com

2011-08-05T14:36:00.000-07:00

The 2nd & Pike site, and more specifically, our tenant "Maximus Minimus", was featured on the front page of MSNBC.com last week. You can learn more about Maximus Minimus by clicking here.

Seattle Comprehensive Plan

2011-07-05T10:02:00.000-07:00

Every 7 years, Seattle updates its Comprehensive Plan, a response to the Growth Management Act of 1990. The plan is used for policy moving forward, specifically related to "land use, transportation, housing, capital facilities and utilities. The City's plan also includes elements addressing neighborhood planning, human development, and the environment."

So how will Seattle grow over the next 20 years? Voice your opinion online here.

The entire Comprehensive Plan Review process is outlined below, with any potential decisions by City Council not expected until late 2012 or early 2013:

Summer 2011: Scoping & Public Discussion
Fall 2011: City Council Scoping Resolution; Public Input into First Draft
Winter/Spring 2010: Draft for Public Discussion
Summer/Fall 2012: Revised Draft based on Public Comments
Late 2012/Early 2013: City Council Consideration

Scale Model of Seattle is back!

2011-06-20T15:26:00.000-07:00

After 2 years in hiding, our scale model of Seattle is back in action. Stop by our new office and check it out: 816 2nd Avenue - Suite 300 (located @ the intersection of 2nd Avenue & Marion Street, above the Metropolitan Grill).

2nd & Pike Tower Information Summary

2011-03-25T10:41:00.000-07:00

Below is a dashboard summary of 2nd & Pike Tower; watch for more information regarding development beginning in April.

For any additional questions, please contact Greg Smith or Broderick Smith @ 206.262.2880.

2nd & Pike Summary

Potential Apartment Site in Pioneer Square

2011-03-01T16:29:00.000-08:00

As reported on "The New Pioneer Square" blog today, we recently co-hosted a design charette at the Olson-Kundig offices in Pioneer Square. Along with Tom Kundig and his team, we surveyed a group of young urban professionals who lived and/or worked in Pioneer Square. Our goal was to better understand what Generation-Y wants in an apartment, and then apply that insight into our design discussions for two development sites in the area: "200 Occidental" and "167 S. Washington". The write-up mainly discusses 167 S. Washington and can be found here:

http://www.thenewpioneersquare.com/new-apartment-building-planned-for-167-s-washington/

If you are interested in participating at one of the future focus groups, please contact us at Info@urbanvisions.com.

'Seattle pushing for more electric vehicle infrastructure' - King5 News

2011-02-11T11:02:00.000-08:00

King 5 News ran a segment this morning on Seattle's Electric Vehicle Charging Station Infrastructure; the story was filmed inside the Stadium Nissan showroom (video below).

At roughly 1:20 into the video, Greg discusses his goals regarding the electric vehicle infrastructure as both a property owner and a business owner:

"From our perspective, its not about making money on this location [referring to the EcoTality charging stations we will install at 2nd & Pike later this year]. Its about educating the public about the electric car, the electric car infrastructure, that it is here, and what it can do for them".

If you have any questions regarding the Electric Vehicle Infrastructure or are interested in learning more about our experience with it so far, please feel free to contact us direct at (206) 262-2880.

If you'd like to check out some of the first charging stations in the City, stop by Stadium Nissan of Seattle.

Rent vs. Buy

2011-02-07T08:30:00.000-08:00

This week's Puget Sound Business Journal highlights an emerging trend in our region: more renters, fewer buyers. Is this trend here to stay? Several local experts, including Greg Smith, tackle this issue in the article.

Photo by Dan Schlatter

Click the image to redirect to the PSBJ.

Note: Article available only to subscribers of the PSBJ.

Latest News

2010-12-07T10:41:00.000-08:00

A Summary of This Week's News and Quotes Featuring Urban Visions

1) DRB Review for the proposed Second & Pike Tower is scheduled for December 14th @ 5:30 PM at City Hall. The current proposal is for a 440 ft tall, 290 unit apartment tower with a retail component and sky bar.

2) Seattle Times: Developer Selig's one man show

A summary of developer Martin Selig's history with quote by Greg Smith.

3) PSBJ: Ascent of rent - Developers launch multifamily boom

A discussion regarding Seattle' 'booming' multifamily industry with discussion on the proposed Second & Pike Tower.

4) Range Anxiety? Not on this highway

Information regarding the proposed "West Coast Green Highway Project" with quotes by Greg Smith & Stadium Nissan.

Stadium Nissan Purchases 723,520 kWh of Renewable Energy Credits

2010-11-30T09:21:00.000-08:00

We would like to commend Stadium Nissan for its continued commitment towards carbon neutrality; Stadium recently purchased 723,520 kWh of renewable energy credits (RECs). This purchase offsets 809,518 lbs. of CO2 from entering the atmosphere, which is similar to:

Planting 3,440 mature trees*;
Eliminating the emissions created by 34 trips around the world in a car**.

For more information on how you can offset your emissions, please visit www.renewablechoice.com.

* Per the DOE Energy Information Administration & Renewable Choice Energy
** Per information provided by EPA & Renewable Choice Energy

EV Charging Stations

2010-10-29T12:43:00.000-07:00

One of the Level II charging stations at Stadium Nissan.

We installed some of the first Phase II electric vehicle charging stations in Seattle at our latest project, Stadium Nissan. A lot of questions have been asked regarding the new stations, from what they look like, to how they work, to how we plan to monetize the stations (you cannot sell electricity from your utility at a premium). We've posted a selection of links below to try and answer these questions and highlight the upcoming boom of EV charging infrastructure in the area.

1) What will it cost for someone to use the stations?

We plan to integrate more charging stations into our properties later this year and early next year. Many of these projects are private (in the sense that only residents and tenants can access the parking area), and the stations will be an amenity more than anything else (free charging). Stadium Nissan, for example, offers free charging for all Nissan Leaf buyers as an incentive to buy with them. At other sites, we may decide to embrace a model where the customer rents the parking stall while they charge the vehicle. As noted above, you cannot sell electricity from the utilities at a premium, but creative business models will emerge as more EV infrastructure is deployed.

2) What about charging in a public area?

Public EV stations are in the works in massive size and scale: a $230MM capital pool partially funded by the US Department of Energy is the main driver behind this exciting news.

ECOtality, a publicly traded firm providing EV infrastructure solutions, will use this money to place thousands of charging stations in select regions around the country. One of the select regions is none other than the Pacific Northwest. Expect to see these stations, called Blink, start popping up all over Seattle and the greater Seattle region early next year.

3) What is the difference between a Level I, Level II, and Level III charging station?

The primary differences are charge time and cost. A Level 1 station may cost under $5K but deliver less than 4 miles of range per hour of charge. A Level III charging station can cost up to $40K, however one hour of charge time may yield more than 25 miles of range per hour of charge. Of course, these actual distances will vary and are based on a Nissan Leaf's vehicle efficiency (miles/kWh). Our estimate is that like Moore's law, charging stations will quickly get faster, smaller, and cheaper as the technology evolves. Currently Level I stations require 110 Volt, Level II require 220 Volt, and Level III require 440 Volt.

Note that a one hour charge on the most common Level II charging stations would give a Nissan Leaf an estimated 15 miles of range.

If you'd like to check out the Level II charging stations pictured above, please visit Stadium Nissan (map below), or contact us directly for a tour: (206) 262-2880.

View Larger Map

Links:

1) Wikipedia: Charging Stations

2) ECOtality: Placing charging infrastructure throughout the region

3) Business Journal: ECOtality explores pay model for charging stations

4) Blink Charging Stations: These are the stations ECOtality will place throughout the region

5) Blink Charging Stations: More Information

6) Seattle Stadium Nissan: Nissan LEAF Dealer

Stadium Nissan Grand Opening

2010-10-26T11:02:00.000-07:00

Stadium Nissan, our latest tenant and Greg Smith's newest business venture, opens its doors to the public today. During a special kick-off event, Governor Gregoire will visit the dealership and test drive the all new Nissan Leaf. As Governor Gregoire notes in the above press release, "Today's opening of Stadium Nissan and the roll out of the first electric car means a green highway will be a reality for Washingtonians."

Click the above screen shot to read the entire article.

The dealership, which is targeting a LEED Gold designation, was built with sustainability in mind; for starters, the dealership is an adaptive reuse of an existing industrial warehouse. The interior was sandblasted throughout and existing materials were reused wherever possible, preserving much of the embodied energy. Salvaged materials from other Urban Visions' projects were brought on site, including old growth wood for the stairs and cladding, and old sliding doors taken from the Reedo Building project for office doors (similar to the doors featured here). Large holes were sawcut into the concrete structure to add storefront systems; this allowed natural light inside the space to warm the materials.

One noticeable feature in the dealership is the HVAC system. Large electric fans were placed throughout the space to cool (and move air); a few reznors were then strategically placed throughout for heating needs. Though minimal, smart design makes the current thermal package sufficient for occupant comfort. High efficiency lighting (reused) and occupancy sensors were also placed throughout.

Another interesting feature in the showroom side of the dealership is the office; essentially its a large metal box clad in a stainless steel product. The final product is stunning and highlights the Olson-Kundig design.

Please check back for a full photo collage later this week.

A special thanks to the project team which finished a challenging project in an amazingly fast time line:

Urban Visions

Nissan

Olson-Kundig

McCullough Hill

Foushee Construction

Aqua-Brite

GrayHawk

Stellar Structures LLC

Nelson Construction

Fawcett Painting

Master Millwork, Inc

GC Flooring

JDS Inc

Northwest Door, Inc.

Generation Glass

Insulation Contractors, Inc.

GS Mechanical

Universal Mechanical Service

Precision Electric

Stadium Nissan Construction Update

2010-10-06T07:37:00.000-07:00

Additional Stadium Nissan Construction photos below. The new dealership is expected to open by the end of October. Please visit www.stadiumnissanofseattle.com for more information.

Stadium Nissan Construction Progress Photos

2010-09-30T11:13:00.000-07:00

Our latest tenant, Stadium Nissan of Seattle, is scheduled to open late October - visit their site for more details or to learn more about Nissan's new electric vehicle, the LEAF. A collection of Stadium Nissan construction photos taken on September 30th, 2010 is posted below. Feel free to contact us with questions at 206.262.2880.

DJC: Smith Turns Over New Leaf

2010-09-23T09:26:00.000-07:00

An article in today's Daily Journal of Commerce outlines Greg Smith's recent ventures away from Commercial Real Estate. Of significance is Stadium Nissan of Seattle, a Nissan automotive dealership he is constructing at his Stadium East property. The dealership, which is on track for LEED Gold certification, will celebrate Nissan's revolutionary new electric vehicle, the Leaf. See below for an upcoming Nissan Commercial featuring the Leaf.

For the full article text, click here.

Another Look at Urban Farming

2010-08-04T08:39:00.000-07:00

Back in 2009 we looked at Urban Rooftop Farming and its potential in Seattle:

" A very cool look at Urban Rooftop Farming - in this example, underutilized rooftop space becomes home to local organic farmers who then deliver the produce via bicycles to nearby restaurants. Many possibilities with this concept, especially in Seattle with the glut of industrial rooftops the city looks over to the South."

The Wall Street Journal features the concept's success this week in dense New York City.

Target Purchases 2nd & Pike Retail Unit

2010-08-02T17:22:00.000-07:00

Adding to a series of positive moves for the Pike Place Corridor, Target announced on Friday that it purchased a 104,000 square foot retail unit in the Newmark Tower. The new store, which is due south of the Hard Rock Cafe and West of Urban Visions' proposed apartment tower, is expected to open sometime in 2012.

Urban Visions Welcomes New Tenant

2010-06-29T09:44:00.000-07:00

We would like to welcome our newest tenant, American Cutting Company, to the Colonial Grand Pacific Building. Occupying the corner suite on First Avenue and Seneca Street, American Cutting Company is a hip new hair salon featuring talented stylists, colorists, and even a “blow-dry” bar. With an anticipated summer opening, they will be a wonderful addition to the building’s collection of boutique retailers.

Developer Greg Smith to Open Nissan Dealership in Seattle

2010-06-04T13:44:00.000-07:00

Urban Visions owner Greg Smith announced plans to open a boutique Nissan dealership this fall on property he owns adjacent to the new BMW dealership in Seattle’s Stadium District. Smith’s “Stadium Nissan” will be small but full-service, and will celebrate Nissan’s new all-electric vehicle, the LEAF. The dealership will sell the entire Nissan line of cars and trucks, and also have a full scale parts and service department.

While current zoning prohibits dealerships larger than 25,000 SF in the neighborhood, city planners are working on a zoning change that would allow a much larger dealership across the street in 2011.

For more information, see today's article in the PSBJ.

DSA Neighborhood Forum @ The Hard Rock Cafe

2010-05-24T09:18:00.000-07:00

Urban Visions Announces Sale of The Reedo Building

2010-05-10T16:48:00.000-07:00

Urban Visions is pleased to announce the sale of The Reedo Building to Reedo LP, a limited partnership based out of Vancouver BC. The $14,500,000 sales price works out to approximately $271 PSF on 53,600 SF. The structure is 100% leased.

Urban Visions finished redeveloping the Reedo Building in 2006; Elysian Fields leased the retail component and Starbucks' Corporate leased the office space. The building, which was a finalist in the 2006 Office Building of the Year awards, is one of the pioneers in Seattle's green building movement.